Halifax Reward Current Account - pays you £5 per month.

simax

YorkshireBoy wrote: »

They would have lost a lot more if had they accepted you.

And why is that then? :rolleyes:

YorkshireBoy

simax wrote: »

And why is that then? :rolleyes:

Assuming that's a serious question, you were going to cost them £60 per year, or £180 per year like me and others if you followed through with another 2 successful applications.

deejants

YorkshireBoy wrote: »

So it always has the appearance of 'new money to Halifax'.

If (or should I say when?) Halifax get smart and start to investigate possible abuse by those with multiple Reward accounts I'm hoping they look at those funding internally first (that'll be you then ).

Do you think this is likely? Any ideas about the worst outcome of an investigation like this? Is there any other disadvantage to opening multiple reward accounts.

Sorry for the bombardment of questions.

wizk1

Abuse or not, we are still operating within the terms of the account. That's my argument anyway

YorkshireBoy

deejants wrote: »

Do you think this is likely?

Personally, yes, for those operating with £1K in/£1K out each month.

Any ideas about the worst outcome of an investigation like this?

Account closure, with 30 days notice. But that's no bad thing is it? After all, I can't imagine many people will be using multiple Reward accounts as they were intended to be used, ie as a main account. Make hay while the sun shines.

Is there any other disadvantage to opening multiple reward accounts.

None, providing you don't take any overdrafts offered which might affect your credit rating.

simax

YorkshireBoy wrote: »

Assuming that's a serious question, you were going to cost them £60 per year, or £180 per year like me and others if you followed through with another 2 successful applications.

I suppose, seeing you put it like that!

flyingscotno1

deejants wrote: »

Do you think this is likely? Any ideas about the worst outcome of an investigation like this? Is there any other disadvantage to opening multiple reward accounts.

Sorry for the bombardment of questions.

Yes and no. Likely those with 3 will be first to see a clampdown, then look at average balances. If you have Direct Debits it will probably be lower down etc.

But then they have had months to do it and have not. If you look at it they made them harder to get first

deejants

Thanks for the help. I already have one of these so may go ahead and set up the extra two accounts and see how long the sun shines.

shymanuk

hi just did this account online, deposited £1 to check all ok then the £1000 all showing ok, at what point does the £5 reward kick in ie start of the new month or any point throughout the month as long as £1000 paid in and how long do i need to leave it in there ? to get the reward as people seem to be having probs taking it out to quick .thanks for any advice

10_66

shymanuk wrote: »

hi just did this account online, deposited £1 to check all ok then the £1000 all showing ok, at what point does the £5 reward kick in ie start of the new month or any point throughout the month as long as £1000 paid in and how long do i need to leave it in there ? to get the reward as people seem to be having probs taking it out to quick .thanks for any advice

The £5 reward is normally paid on the 2nd day of the month, but backdated to the 1st. Once up and running, you don't have to leave the £1,000 in, you can pay it in and then transfer out straightaway. However, in view of one or two posters' experiences, if you've only just opened it, it may be worth while leaving in overnight on this occasion, but thereafter you don't need to.